Sify.com reports that in the Genelec case, the Bombay High Court upheld the right of a shareholder (Nirad Mehta) to initiate legal on behalf of a company if wrong-doers are in control of it. Three of the directors of the company, Vinod Faria, Suresh Faria and Amarish Nishar, had said that he did not have the locus standi to initiate legal action.

(Read the Sify report here.)